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Jan 15, 2013
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i will not negotiate over the debt ceiling. congress has to do its job. >> woodruff: when it comes to the republicans jake sherman, you've been talking to some of the folks on the hill. they were digging in their heels just as much as the president was. what was their reaction? >> i think they have... they see this situation as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the beginning of march. they want to use these opportunities. they don't think it's so bad to shut down the government or to default on the debt. they are even skeptical of the administration's estimates of when that will happen. so they see themselves really having very little leverage besides doing something which a lot of americans would consider extreme which is defaulting on the debt or shutting down the government. now i think it's virtually impossible that speaker john boehner will raise the debt ceiling without commensurate spending cuts. he's wa
i will not negotiate over the debt ceiling. congress has to do its job. >> woodruff: when it comes to the republicans jake sherman, you've been talking to some of the folks on the hill. they were digging in their heels just as much as the president was. what was their reaction? >> i think they have... they see this situation as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the...
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Jan 4, 2013
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ceiling ceiling increases it is the norm. 11 out of the 14 previous debt ceiling increases have legislation to affect the greater deficit with them. so we should recognize that's how it's going to end up. the president should put the legislation he wants on the table and we should go from there. we shouldn't have this silliness that somehow we're going to raise the debt ceiling and ignore the debt. >> brown: but i'm wondering now, you all three watched the economics of our political system and we saw judy's piece looking at a new congress. a lot of people are talking about a broken political system, looking at what just happened. >> it feels broken right now. it feels like we should have a political system that is not up to making difficult choices and solving hard problems. and compromising when it's so much easier to just pull back and start sort of playing the blame game. but this is too important. when we're talking about health care costs or the aging of society these are issues we know are there and we're going to disagree about the way to address them but you can't pretend we don't h
ceiling ceiling increases it is the norm. 11 out of the 14 previous debt ceiling increases have legislation to affect the greater deficit with them. so we should recognize that's how it's going to end up. the president should put the legislation he wants on the table and we should go from there. we shouldn't have this silliness that somehow we're going to raise the debt ceiling and ignore the debt. >> brown: but i'm wondering now, you all three watched the economics of our political...
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Oct 10, 2013
10/13
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everybody is scared to death at the debt ceiling. nobody wants to be held accountable for what happens after that, what happens to the country and i think americanism has briefly taken over partisanship on that particular issue. the c.r. is a little more -- to some members who --. >> woodruff: again, the spending. >> yes, continuing the spending issues, a lot of members in the republican conference don't feel that as much in their districts but remember this: you've got 25 30 members that this is hurting them. they're in marginal seat, they have a lot of federal employees and they're tired of going along with this. >> woodruff: 25 or 30 republicans? >> right, in swing seats. >> woodruff: norm, could this be the beginning of a resolution or what do you think? >> the problem with the deal is we get more brinksmanship in six weeks or so. the initial deal that was proposed by paul ryan and then speaker boehner was to take a six-week extension in the debt limit now take away all the flexibility from the treasury during that period of time
everybody is scared to death at the debt ceiling. nobody wants to be held accountable for what happens after that, what happens to the country and i think americanism has briefly taken over partisanship on that particular issue. the c.r. is a little more -- to some members who --. >> woodruff: again, the spending. >> yes, continuing the spending issues, a lot of members in the republican conference don't feel that as much in their districts but remember this: you've got 25 30...
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Jan 7, 2013
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government debt, u.s. government bonds again. >> you fast forward to the debt ceiling. i think that's the mirror image of the fiscal cliff. because the default, if nothing happens, is that the debt ceiling is not raised. what that means it doesn't mean, as some who would demagogue this issue suggest, i doesn't mean a default on our debt. whatnot raising the debt ceiling would mean is a partial government shutdown. roughly 40 cents of every dollar the federal government spends is borrowed. if you don't raise the debt ceiling, that 40 cents is temporarily stopped. now we did that in 1995. we didn't default on our debt. >> woodruff: right. the result was balanced budgets and some of the greatest fiscal responsibility was seen we've seen in modern times from congress because fiscal conservatives stood together and said we need to be responsible. >> woodruff: let me ask you about a couple of other issues. that is guns. you're a long-time proponent of gun rights. you're the father of two young girls ages 4 and 2. after those terrible shootings at that h elementary school in c
government debt, u.s. government bonds again. >> you fast forward to the debt ceiling. i think that's the mirror image of the fiscal cliff. because the default, if nothing happens, is that the debt ceiling is not raised. what that means it doesn't mean, as some who would demagogue this issue suggest, i doesn't mean a default on our debt. whatnot raising the debt ceiling would mean is a partial government shutdown. roughly 40 cents of every dollar the federal government spends is borrowed....
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Oct 3, 2013
10/13
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but let's start with some explanation about the debt ceiling. annie lowrey is a reporter for the "new york times" and joins us now. welcome back to the program. remind us what is the debt ceiling, why is it there? why is it needed? >> so it's a kind of secondary check on the amount that congress is spending. that's what it's designed to be. so every year congress decides the amount of deficit or surpluses they're going to run by deciding how much they'll spend and how much they'll take in in taxes and in the event they're running in the red-- as they generally are ---- treasury takes them and sells bonds on the bond market. so a debt limit is the cap on the total value of bonds treasury can sell. but the issue if that if the treasury can't raise that limit by itself, it needs congress to do it, if they don't have enough money to pay the bills they need to issue those bonds, they can't right now so it looks like they might have a cash crunch. the. >> woodruff: treasury has announced in the last few days that they expect the debt ceiling is going
but let's start with some explanation about the debt ceiling. annie lowrey is a reporter for the "new york times" and joins us now. welcome back to the program. remind us what is the debt ceiling, why is it there? why is it needed? >> so it's a kind of secondary check on the amount that congress is spending. that's what it's designed to be. so every year congress decides the amount of deficit or surpluses they're going to run by deciding how much they'll spend and how much...
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Sep 18, 2013
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>> ifill: it sounds like he's more concerned about the debt ceiling battle than anything else? >> i think he's right. what ben bernanke fears most is the kind of thing the fed can't do anything about which is a financial crisis brought about not by external factors but self-induced by congress not playing games with the debt ceiling. >> ifill: let's play elephants in the room. because the question that he was going to be asked today and which, of course, he found a way not to answer which is -- about who's going to succeed him. but we don't know officially that he's leaving. >> that's right. his term is up january 31, he has studiously avoided even commenting on his own future plans. it's crystal clear to anyone who follows this stuff carefully that ben bernanke is planning to step down. his term is up at the end of january and now we're getting clear indications of what direction is president is leaning in appointing a replacement. it looks like janet yellen, the current vice chair of the fed to follow bernanke. >> ifill: let's talk about the people in line to replace bernanke
>> ifill: it sounds like he's more concerned about the debt ceiling battle than anything else? >> i think he's right. what ben bernanke fears most is the kind of thing the fed can't do anything about which is a financial crisis brought about not by external factors but self-induced by congress not playing games with the debt ceiling. >> ifill: let's play elephants in the room. because the question that he was going to be asked today and which, of course, he found a way not to...
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Sep 16, 2013
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but at the end of the day, congress should raise the debt creeling and congress will raise the debt ceiling. they always do. >> last question: the federal reserve. you know the importance of the federal reserve. you work very closely with the chairman during the financial crises. today there's big question about who is going to replace ben bernanke, and larry summers has taken him name out. a lot of attention on janet yelin. knowing what you know of her is she someone that is qualified to be chairman? >> judy, the fed job is a very important job. and i have been very disturbed by all of the politicking around it and the whole way this situation has been handled. all i know is good things about janet yelin. i don't know her well. i met her a couple of times. there are number of good candidates. i also have a high regard for larry summers. >> when you speaking of politicking around the fed chairmanship what does that say to you about the concern out there in congress and elsewhere, about government -- the role of the government, in awful this. >> what it says to me is that we have dysfunction
but at the end of the day, congress should raise the debt creeling and congress will raise the debt ceiling. they always do. >> last question: the federal reserve. you know the importance of the federal reserve. you work very closely with the chairman during the financial crises. today there's big question about who is going to replace ben bernanke, and larry summers has taken him name out. a lot of attention on janet yelin. knowing what you know of her is she someone that is qualified to...
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Jan 16, 2013
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debt, it would join standard and poor's, which took that action in 2011 during the last debt ceiling debate. the u.s. house moved to pass a hurricane sandy relief bill this evening. $17 billion would go for immediate recovery in the affected northeastern states. another $33 billion is for long- term spending. some republicans argued that much of the money isn't for emergency relief at all. california's tom mcclintock called for stripping that funding out. >> according to the congressional budget office, more than 90% of this money won't even be spent this year. that's not emergency relief. $16 billion is to quintuple the size of the community development block grant program. that's the slush fund that pays for such dubious projects as doggie day care centers and doesn't even have to be spent in the hurricane area. >> sreenivasan: other republican >> sreenivasan: other republicans joined with most democrats to reject offsetting spending cuts. instead, lawmakers from the northeast urged the house to pass the storm aid now. new york democrat hakeen jeffries said it's already taken too l
debt, it would join standard and poor's, which took that action in 2011 during the last debt ceiling debate. the u.s. house moved to pass a hurricane sandy relief bill this evening. $17 billion would go for immediate recovery in the affected northeastern states. another $33 billion is for long- term spending. some republicans argued that much of the money isn't for emergency relief at all. california's tom mcclintock called for stripping that funding out. >> according to the congressional...
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Feb 7, 2013
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ceiling. >> we got the debt limit out of the way so that we weren't jeopardizing thfull faith and credit of the united states vernment. at some point, washington has to deal with its spending problem. i've watched them kick this can down the road for 22 years that i've been here. i've had enough of it. time to act. >> sreenivasan: at the white house, spokesman jay carney it's the republicans who are being irresponsible, by rejecting the president's appeal out of hand. >> he put forward a proposal for avoiding that outcome while congress continues working on longer term deficit reduction. that's the sensiblehingo do. why make-- why punish the american people because you haven't been able to achieve your ideological objectives through other means? >> sreenivasan: in another development, the associated press reported the u.s. military is cutting back from two aircraft carriers to one, in the persian gulf. the report cited u.s. officials who said it's a direct response to the looming, across-the-board cuts. u.s. and british regulators have fined the royal bank of scotland more than $610 mill
ceiling. >> we got the debt limit out of the way so that we weren't jeopardizing thfull faith and credit of the united states vernment. at some point, washington has to deal with its spending problem. i've watched them kick this can down the road for 22 years that i've been here. i've had enough of it. time to act. >> sreenivasan: at the white house, spokesman jay carney it's the republicans who are being irresponsible, by rejecting the president's appeal out of hand. >> he...
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and you have this debt ceiling. you have a debt ceiling looming in a couple months. john boehner has something called "the boehner rule" which i think will become the new fiscal cliff key word. you want $1 in deficit increase, i want $1 in spending cuts. and the president is saying i'm not going to negotiate at all. so & that strikes in two months. un, that's-- somebody's going to have to give on that, and, you know, it could get really ugly really fast. >> woodruff: neil irwin, if you're looking at this economy right now and looking at this legislation, does it have an impact on the american economy ounemployment? >> so there are some mild negatives that come from the higher taxes, especially the payroll tax holiday we talked beven higher income tax rates ray negative for growth. that said, this economy has been plugging along. what steve is talking about are some really dangerous things. we're heading into another standoff over the debt ceiling. we all remember how that worked out in august 2011. it hurt business confidence. it floated the possibility of a federal
and you have this debt ceiling. you have a debt ceiling looming in a couple months. john boehner has something called "the boehner rule" which i think will become the new fiscal cliff key word. you want $1 in deficit increase, i want $1 in spending cuts. and the president is saying i'm not going to negotiate at all. so & that strikes in two months. un, that's-- somebody's going to have to give on that, and, you know, it could get really ugly really fast. >> woodruff: neil...
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Jan 31, 2013
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and the senate gave final approval to suspending the national debt ceiling into may. online we profile a social entrepreneur who works as matchmaker between international artisans and retailers. kwame holman explains. >> holman: in our agents for change series, meet the woman in charge of nest, an organization that helps talented, aspiring craftspeople build successful businesses and connect to consumers. that's on the rundown. should parents worry about kids consuming highly caffeinated energy drinks? health correspondent betty ann bowser asks a psycho- pharmacologist. and on making sense, economist dean baker weighs in on the causes of rising economic inequality in the united states. all that and more is on our website newshour.pbs.org. jeff? >> brown: and that's the "newshour" for tonight. i'm jeffrey brown. >> brown: and i'm judy woodruff. we'll see you online and again here tomorrow evening with mark shields and david brooks among others. thank you and good night. >> major funding for the pbs newshour has been provided by: >> and the william and flora hewlett fou
and the senate gave final approval to suspending the national debt ceiling into may. online we profile a social entrepreneur who works as matchmaker between international artisans and retailers. kwame holman explains. >> holman: in our agents for change series, meet the woman in charge of nest, an organization that helps talented, aspiring craftspeople build successful businesses and connect to consumers. that's on the rundown. should parents worry about kids consuming highly caffeinated...
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Jan 21, 2013
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house will vote wednesday on raising the national debt ceiling. republican leaders announced today the extension lets the government continue borrowing money until may 19. the current debt ceiling-- $16.4 trillion-- could be reached as early as mid-february. the house bill does not specify a new dollar amount. it does mandate that congress approve budgets, or lawmakers won't be paid. major league baseball lost two hall of famers over the weekend. st. louis cardinals great stan musial-- "stan the man"-- died saturday at his home just outside the city. he played 22 years, helping the cards win three world series titles in the 1940's. he was widely regarded as one of game's greatest hitters ever. stan musial was 92 years old. also saturday, former baltimore orioles manager earl weaver passed away, during a caribbean cruise. weaver won the world series in 1970, and took his teams to three others. along the way, he gained fame for his fiery, in-your-face confrontations with umpires. he was ejected from games 91 times over 17 seasons. earl weaver was 82
house will vote wednesday on raising the national debt ceiling. republican leaders announced today the extension lets the government continue borrowing money until may 19. the current debt ceiling-- $16.4 trillion-- could be reached as early as mid-february. the house bill does not specify a new dollar amount. it does mandate that congress approve budgets, or lawmakers won't be paid. major league baseball lost two hall of famers over the weekend. st. louis cardinals great stan musial--...
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Oct 1, 2013
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if it rolls into a confrontation over the debt ceiling, that has much greater consequences for the state of the u.s. economy. >> isn't that what both sides are eyeing, in two weeks they're going to have to have this fight all over again? >> i think so. most of us think we're in this extended period of a fight. it is a matter of who blinks last, the last will be a couple of weeks from now or later. >> does the public opinion play a role in who blinks? that is -- maybe it is a little soon, 24 hours to say, but do people look at this and say as we saw in our opening tape, you know what, i'm exhausted? >> absolutely. you do see some house republicans saying we ought to have a vote on what we call a clean slate, a continuing resolution without any strings attached related to obamacare. if republicans are getting hammered in public opinion polls, it seems to me that would be a factor that house republicans might look at and say maybe we should fold. >> and even some of the peace solutions that the president said he would keep, keeping the parks open, that would be in response to some of the fe
if it rolls into a confrontation over the debt ceiling, that has much greater consequences for the state of the u.s. economy. >> isn't that what both sides are eyeing, in two weeks they're going to have to have this fight all over again? >> i think so. most of us think we're in this extended period of a fight. it is a matter of who blinks last, the last will be a couple of weeks from now or later. >> does the public opinion play a role in who blinks? that is -- maybe it is a...
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Sep 26, 2013
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what some members are even more concerned about is the debt ceiling. we heard from the treasury department today that it's just a few weeks away from the country -- the government exceeding the permitted debt ceiling. do you think we're going to see another showdown like this over that? >> any time the president comes to congress asking for the authority to increase the debt burden on our children and grandchildren we should have a debate. we should have discussion. and if we're going to increase that debt burden on our kids and grand kids there should be something given in exchange in terms of some level of fiscal discipline so, yeah, i think there's going to be a debate. >> woodruff: senator warner? >> listen, i laid out a plan that was based on the simpson bowles plan, the so-called gang of six plan that would have got us where we needed to go. it wasn't perfect but it showed real entitlement reform and real revenue generation. that's a fair debate. but to basically put in jeopardy at this moment with the world economy teetering the full faith and c
what some members are even more concerned about is the debt ceiling. we heard from the treasury department today that it's just a few weeks away from the country -- the government exceeding the permitted debt ceiling. do you think we're going to see another showdown like this over that? >> any time the president comes to congress asking for the authority to increase the debt burden on our children and grandchildren we should have a debate. we should have discussion. and if we're going to...
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Oct 11, 2013
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we're talking judy about going on, passing the debt ceiling and keeping government closed. that comes to 9 million americans under women's and infant child care who will be cut off. that's nutritional. that's post-partum. that's pregnancy. counseling, and assistance for all kinds of people. that's 66 qix,000 kids in head start. >> woodruff: the white house is saying they won't go along. >> to be fair i'm not saying i approve. the polls show 80% don't notice. >> peter hart, said if you were a democratic partisan you'd look at this poll with glee. but as anybody who believes in democracy, this is an enormously serious survey, and it's one of those-- bench watermarks in political attitudes and public attitudes. i think we may be on the cusp of that. i really do. >> woodruff: under a minute-- where does the be president go from here. what is his standing coming out of this? >> i think he need to figure out-- if this is a big defeat for republicans are, they weakened on immigration? is the tea party weakened? does he have an tune there or is that still probably not going to happ
we're talking judy about going on, passing the debt ceiling and keeping government closed. that comes to 9 million americans under women's and infant child care who will be cut off. that's nutritional. that's post-partum. that's pregnancy. counseling, and assistance for all kinds of people. that's 66 qix,000 kids in head start. >> woodruff: the white house is saying they won't go along. >> to be fair i'm not saying i approve. the polls show 80% don't notice. >> peter hart,...